A business angels service, Sussex Enterprise Private Equity (SEPE), has been launched to help companies raise small amounts of investment capital.

The service aims to become the leading source of small private sector investment in Sussex.

It will be part of the general financial packaging and advisory services provided by the Financial Services Unit of Sussex Enterprise.

It has links with legal and finance resources from Nat West, Venture Finance plc and Thomas Eggar and will administer its own investment fund.

Financial services development manager Terry Rainback said: "The market is fragmented with capital available for different purposes from different sources.

"We will provide a degree of co-ordination and a profile for the new SEPE service so companies in Sussex recognise it as part of a strong, supportive culture for the business community.

An important aspect of the service will be the ability to deliver a broad range of assistance.

"By their nature, many businesses are usually start-up, early stage or young with plans to grow significantly beyond their size and status. Many will be in need of services and business support of a more structured and sophisticated nature.

"Our experience is many companies do not readily have access to some of the new services they will need as the business develops."

Funding for the project was raised jointly by the supporting companies and Sussex Enterprise.

They offering expertise to firms approved by SEPE.

Mr Rainback said: "SEPE will act as a conduit between a high net-worth individuals who are interested in investing and business people who want to start up on their own or expand."